# Federal Register #SR-NYSE-2026-54

NYSE proposal to change IPO Auction imbalance information timing

**Buyer:** Securities and Exchange Commission
**Posted:** November 12, 2026
**Identifier:** SR-NYSE-2026-54
**NAICS:** 523210

This Securities and Exchange Commission notice describes a proposed New York Stock Exchange rule change, not a government procurement opportunity.
- Government entity: Securities and Exchange Commission (SEC).
- Proponent: New York Stock Exchange LLC (NYSE), which proposes amendments to Rules 7.35 and 7.35A.
- Proposed change: For IPO Auctions, NYSE would begin disseminating Auction Imbalance Information no earlier than 8:00 a.m. ET, linked to publication of the first pre-opening indication and subject to a 10:00 a.m. ET backstop.
- Scope: The proposal changes dissemination timing, not the information provided; it applies to IPO Auctions and not Direct Listings.
- Nasdaq is mentioned as having a comparable practice. No products, services, quantities, or part numbers are requested.

### Description

New York Stock Exchange LLC proposes to amend Rules 7.35 and 7.35A to change when it begins disseminating Auction Imbalance Information for an IPO Auction. Under the proposal, dissemination would begin no earlier than 8:00 a.m. ET and would be timed relative to publication of the first pre-opening indication, with a 10:00 a.m. ET backstop. The change is limited to IPO Auctions and does not apply to Direct Listings. The Exchange states it is prepared to implement the change no later than the first quarter of 2027.

[View original listing](https://www.federalregister.gov/documents/2026/11/12/2026-22956/self-regulatory-organizations-new-york-stock-exchange-llc-notice-of-filing-and-immediate)